#MoneyvsMe Ep16; of a 50-year-old who thinks hitting the Million-Mark at 40 is funny
Every week, TNT wants to know how people move money in and out of their lives. Certain stories will be challenging,while others will be extravagant. It will always show something new to learn.
A Millionaire at 40. I come from Enugu, Nigeria, and was born into a big family. Growing up in a modest household was quite the experience, especially being the fifth of seven children! My old man was a civil servant, while my dear mother was a hustler, selling all sorts of delicious goodies in the bustling local market. My family wasn’t exactly rolling in dough, but we definitely knew how to stretch a dollar. Most of our hard-earned cash went towards school fees and the essentials. We were masters of budgeting! Since I was a child, I’ve always had big dreams. I was a real overachiever in school, on a mission to escape the never-ending cycle of financial hardship that my family had been stuck in for ages. Once I finished up my secondary education, I made the bold decision to head on over to Lagos and enroll at the prestigious University of Lagos. There, I embarked on a thrilling journey of studying Business Administration. Throughout my university years, I managed to juggle a bunch of part-time gigs to keep myself afloat and help out my family back home.
The struggle for financial independence is so bad. After graduating, I faced the harsh reality of Nigeria’s job market. Despite having a degree, I struggled to find a well-paying job. I took on various roles, from working as a sales representative to managing small businesses for others. By the time I was in my late 30s, I had built a modest life for myself, but I was far from achieving the financial success I had dreamed of. At 38, I reached a crossroads. I had spent years working for others, barely making ends meet, and I realised that if I wanted to change my financial situation, I would need to take matters into my own hands. I began to explore opportunities in the real estate sector, which was booming in Lagos at the time. But with little capital and no experience, I knew the road ahead would be challenging.
I thought, why not take a leap of faith? So, I decided to take a leap of faith and dip into my savings to kickstart a little real estate adventure. My grand plan? Snatch up some prime land on the outskirts of Lagos and make a killing in the market. The early years were quite a challenge, let me tell you. I encountered a whole bunch of hurdles, from dealing with some less-than-reliable business partners to trying to figure out the convoluted land acquisition process in Nigeria. There were moments when I questioned my choice, particularly when my bank account was feeling a little too light. Nevertheless, I refused to give up. I must admit, that I dedicated an absurd amount of time to mastering the ins and outs of the real estate market. I even went as far as schmoozing with local chiefs and diving into the mind-numbing world of legal jargon surrounding land transactions. My blood, sweat, and tears finally paid off when I managed to seal the deal on my first major sale—a land transaction that brought in a hefty profit. I was thrilled!
Hitting the Million-Mark at 40 was so funny. My real estate company had gathered steam by the time I turned forty. More customers came to me since I had developed a reputation for dependability and honesty. I closed a number of transactions that exceeded one million naira that year, therefore increasing my net worth. A milestone I had dreamed of for years, reaching it felt strange. Having saved my first million, I grew my company. I diversified into property development, creating homes and businesses in developing Lagos districts. My fortune grew even more as I could spot and seize development prospects in the real estate sector.
An existence changed. At fifty now is quite interesting. I am somewhat well-known in the Nigerian real estate scene. Several properties in Lagos and other big Nigerian cities comprise part of my business empire. I have also moved into other fields, including logistics and agriculture, therefore broadening my portfolio. Still, riches to me goes beyond just money. It’s about my freedom to live life on my terms, my capacity to support my family, and my chance to return to my neighbourhood. In my hometown, I have supported local infrastructure projects to raise quality of living, scholarships for poor youngsters, and educational activities.
Deep thoughts and lasting impressions I frequently ponder upon my adventure, from the challenges of my humble beginnings to the sweet taste of financial independence I currently savour. I can’t help but feel a sense of pride for what I’ve accomplished. However, I always keep my feet firmly planted on the ground, fully aware that my success was the result of blood, sweat, tears, and a healthy dose of risk-taking.
